Mutual of America Capital Management LLC Has $3.32 Million Stake in Lear Co. (NYSE:LEA)

Mutual of America Capital Management LLC reduced its stake in Lear Co. (NYSE:LEA) by 6.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 30,406 shares of the auto parts company’s stock after selling 2,109 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.06% of Lear worth $3,319,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its stake in shares of Lear by 24.1% in the third quarter. Natixis Advisors LLC now owns 45,998 shares of the auto parts company’s stock worth $5,021,000 after buying an additional 8,937 shares during the last quarter. Victory Capital Management Inc. lifted its position in Lear by 39.9% during the 3rd quarter. Victory Capital Management Inc. now owns 21,221 shares of the auto parts company’s stock worth $2,316,000 after acquiring an additional 6,055 shares during the last quarter. Aigen Investment Management LP acquired a new position in Lear during the 3rd quarter worth $613,000. Versor Investments LP acquired a new stake in shares of Lear in the third quarter valued at about $483,000. Finally, State of New Jersey Common Pension Fund D grew its position in shares of Lear by 7.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 16,928 shares of the auto parts company’s stock valued at $1,848,000 after purchasing an additional 1,135 shares during the last quarter. Institutional investors own 97.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LEA shares. Morgan Stanley decreased their target price on Lear from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $132.00 price objective on shares of Lear in a research note on Tuesday, September 10th. The Goldman Sachs Group cut their target price on shares of Lear from $144.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Wolfe Research assumed coverage on shares of Lear in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Finally, Bank of America reduced their target price on shares of Lear from $180.00 to $170.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Lear presently has an average rating of “Hold” and a consensus target price of $140.25.

Lear Price Performance

Lear stock opened at $97.89 on Friday. The business has a 50 day simple moving average of $102.64 and a 200 day simple moving average of $112.78. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.33 and a quick ratio of 1.03. The company has a market capitalization of $5.32 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46. Lear Co. has a one year low of $92.14 and a one year high of $147.11.

Lear (NYSE:LEA) last issued its earnings results on Thursday, October 24th. The auto parts company reported $2.89 EPS for the quarter, beating the consensus estimate of $2.57 by $0.32. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.52 billion. Lear had a net margin of 2.33% and a return on equity of 14.68%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.87 EPS. On average, sell-side analysts forecast that Lear Co. will post 12.19 EPS for the current fiscal year.

Lear Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Wednesday, December 11th. Lear’s payout ratio is 32.39%.

About Lear

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.